In view of the new basis of computing slot machine duties be changed from 30% of deemed turnover to 12% of actual turnover from the operation of a fruit machine from 1 September 2006. The cash box will have to be cleared in the presence of external auditors before commencement of operations on 1 September 2006.

Clubs are required to put in place sufficient internal control procedures to ensure complete accuracy in the reporting of the revenue figures. Some of the key responsibilities involved external auditors services are –

	Inform external auditors, IRAS and police Division whenever the meters are reset due to changes or corruption of meters.
	The verification of the fruit machine meters must be done at least once every month as well as cash count always in the presence of external auditors. Auditors’ report to the commissioner of betting duties for the specific period will be released after the verification.
	By 31 December of each year, clubs should inform the external auditors, IRAS and Police Licensing Division of the dates when verification of fruit machine meters will be conducted for the following Calendar year.

For enquiry or further details, please contact our customer service division, at Tel: 6533 7393 or at info@tanchan-cpa.com.